Publication detail

Technical condition of houses: a framework for the Czech market

JANDÁSKOVÁ, T. HRDLIČKA, T. KLEPÁRNÍK, P. KOMOSNÁ, M. KERVITCER, M. CUPAL, M.

Original Title

Technical condition of houses: a framework for the Czech market

Type

journal article in Web of Science

Language

English

Original Abstract

Purpose This study aims to provide a framework for assessing the technical condition of a house to determine its market value, including the identification of other price-setting factors and their statistical significance. Time on market (TOM) in relation to the technical condition of a house is also addressed. Design/methodology/approach The primary database contains 631 houses, and the initial asking price and selling price are examined. All the houses are located in the Brno-venkov district in the Czech Republic. Regression analysis was used to test the influence of price-setting factors. The standard ordinary least squares estimator and the maximum likelihood estimator were used in the frame of generalized linear models. Findings Using envelope components of houses separately, such as the facade condition, windows, roof, condition of interior and year of construction, brings better results than using a single factor for the technical condition. TOM was found to be 67 days lower for houses intended for demolition - as compared to new houses - and 18 days lower for houses to refurbishment. Originality/value To the best of the authors' knowledge, this paper is original in the substitution of specific price-setting factors for factors relating to the technical condition of houses as well as in proposing the framework for professionals in the Czech Republic.

Keywords

Technical condition; Price-setting factors; Houses; Selling price; Time on market; Residential real estate

Authors

JANDÁSKOVÁ, T.; HRDLIČKA, T.; KLEPÁRNÍK, P.; KOMOSNÁ, M.; KERVITCER, M.; CUPAL, M.

Released

13. 10. 2022

Publisher

EMERALD GROUP PUBLISHING LTD

Location

BINGLEY

ISBN

1753-8289

Periodical

International Journal of Housing Markets and Analysis

Year of study

1

Number

1

State

United Kingdom of Great Britain and Northern Ireland

Pages from

1

Pages to

2222

Pages count

22

URL

https://www.scopus.com/record/display.uri?eid=2-s2.0-85139050036&origin=resultslist&sort=plf-f

BibTex

@article{BUT179510,
  author="Tereza {Jandásková} and Tomáš {Hrdlička} and Petr {Klepárník} and Milada {Komosná} and Marek {Kervitcer} and Martin {Cupal}",
  title="Technical condition of houses: a framework for the Czech market",
  journal="International Journal of Housing Markets and Analysis",
  year="2022",
  volume="1",
  number="1",
  pages="1--2222",
  doi="10.1108/IJHMA-07-2022-0106",
  issn="1753-8289",
  url="https://www.scopus.com/record/display.uri?eid=2-s2.0-85139050036&origin=resultslist&sort=plf-f"
}